The Dilemma - Used Car or New Car?
Once you've decided to buy a car, there is one question that keeps on nagging you (beside your budget) is whether to buy a used car or a new car. There are advantages and disadvantages to both and we try to give you a low down of both sides of the story. While the truth of the matter is that you might be enticed to buy yourself a brand new car, the money you would have to put on it, might be enough to make you re-think. You also need to realize that there is no shame in buying a used car for, at the end of the day, it is a good option. Here's the list of Pros and Cons for your overall perspective.
Pros of buying a New Car:
- There is no other joy than buying a spanking new car from the showroom and calling it your own.
- You can get the latest feature-packed edition of the car of your choice
- You won't need to worry about any history of accidents or other legal matters
- You don't have to worry about matters like Insurance, RTO Registration et al as all of these formalities are taken care of by the dealer.
Cons of Buying a New Car:
- The insurance premium you pay on a new car is significantly higher than that on a used car
- The cost of a new car itself will leave a deep vacuum in your pocket
- A new car starts to depreciate from the time it leaves the showroom so you can imagine, so yes that quick!
Pros of Buying a Used car:
- A used car does not undergo a significant depreciation as a new car and hence based on the 'brand value' will eventually fetch you a good resale value
- It's an ideal buy if you are looking at a budget that doesn't burn your pockets inside out
- The insurance premium paid on a used car is lower than a new car
Cons of Buying a Used Car:Unless the owner is very meticulous in keeping records, there is no way of knowing what the car has gone through with regards to service and maintenance
- Maintenance too goes to the higher side because the car has been used over a period of time and the parts might have deteriorated.
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